Key points from article :
Australian medtech company Convergence Medical has raised $3.1 million (AU$5 million) to support the commercialization of its V01 robot, the world’s first arthroscopic surgical robot. The Brisbane-based company secured the funding during its Series A round, with contributions from global investors like U.S.-based Avicella Capital. This funding marks a significant step forward for the company, bringing its valuation to over $18.7 million (AU$30 million).
The V01 robot, which received FDA breakthrough device designation in December 2023, aims to revolutionize arthroscopic surgery by improving precision and efficiency. Convergence Medical plans to use the funds to scale production, expand its global reach, and enhance research and development efforts. With a soft launch of the V01 robot anticipated soon, the company is positioned for growth in the global arthroscopic market.
Founder and CEO Dr. Chris Jeffery expressed excitement about the milestone, emphasizing the potential of the V01 to improve patient outcomes and support healthcare professionals worldwide. The company’s mission is to drive innovation in medical technology, providing more effective surgical solutions.
